Local casinos remain shuttered in Las Vegas, Nevada
In March 2020, the Nevada governor ordered the shut down of all non-essential businesses. By May 2020, many were able to reopen, albeit with occupancy restrictions and safety protocols in place. Many casinos opted to add mask requirements, temperature checks at entrance points, and the addition of layers of plexiglass to maintain social distancing. Other casinos, however, simply did not see it was feasible to reopen their doors.
A true picture of the state of local casinos can be seen in the company Stations Casinos. Two of their large properties, Texas Station and Fiesta Rancho, have not reopened and they have no plans to do so. These casinos have a non-restricted gaming and full liquor off-sale business licenses. They’re able to “mothball” them for up to two years, essentially putting them on hold. Stations had indicated that on June 4, they will mothball them for the second year in a row.
Not only are Stations properties not scheduled for reopening, the company is also expressly interested in dumping some of their assets. In early May 2020, they announced the sale of the Palms to the San Manuel Band of Mission Indians. The property sold for $650 million in cash
While indicators seem to imply that Las Vegas is recovering, a look at the local economy says otherwise. Weekends are regaining steam, for sure, as those on vacation are eager to come. However, Las Vegas weekdays are not experiencing the same return to normalcy. Weekday business tends to be fueled by those visiting conventions, and workplaces country-wide are still not recovering. The failure of many of Las Vegas’s local casinos to reopen show true signs of stress on the economy.